Property sales in H1 2021 increase due to positive economic and employment sentiment in Dubai

UAE residents have been investing heavily in real estate during the past 6 months, the number of units sold grew by 70 percent.

Betterhomes, a leading real estate brokerage, issued H1 2021 Dubai Real Estate Market Report, comprising critical data and trends for Dubai. The report contains comprehensive insights on the health of the emirate's property market, covering residential sales and leasing. According to the H1 2021 report, Dubai's property market is back in the spotlight as one of the most desirable real estate markets worldwide, where investors and individuals flock to purchase high-end properties. 

Due to an overall positive economic and employment sentiment in Dubai, UAE residents have been investing heavily in real estate during the past 6 months. The number of units sold grew by 70 percent compared to the same period last year and 52 percent compared to H1 2019, according to the information recorded by the Dubai Land Department (DLD). 

Transaction and prices in villa communities jumped in H1 2021. The trend started during the lockdown period last year: people realized they needed more space for everyday life at home. Juggling work, leisure, and recreation while raising children from an apartment proved to be the tipping point for many buyers and tenants. If we look at the numbers, villa transactions grew by a massive 167 percent.

As for townhouse transactions, they increased by 97%. The number of clients at Betterhomes interested in villas/townhouses surged by 123 percent and the number of villas/townhouses sold increased by 146 percent. Four-bed villas proved to be popular in this category with a 26 percent increase in transactions. 

According to Betterhomes data, the number of UK buyers increased by 600% in H1 2021. They jumped from 10th place in H1 2020 to 2nd place in the company's ranking of buyers by nationality.

There are undoubtedly winners when it comes to property sales prices. Prices increased almost 40 percent in communities, like in the Jumeirah Islands, while at the same time reduced in others by over 25%, like in Al Habtoor City and Dubai South, according to Dubai Land Department data. Average property prices per square foot increased by 24 percent for villas/townhouses and 3 percent for apartments in H1 2021.